GIOTX vs. GIMFX

Last updated Jun 4, 2026

GIOTX (GMO International Developed Equity Allocation Fund) and GIMFX (GMO Implementation Fund) are both mutual funds - GIOTX is a Foreign Large Cap Equities fund managed by GMO, while GIMFX is a Global Allocation fund managed by GMO. Over the past 10 years, GIOTX returned 11.95%/yr vs 7.26%/yr for GIMFX. Their correlation of 0.86 suggests significant overlap in exposure. GIOTX charges 0.00%/yr vs 0.02%/yr for GIMFX.

Performance

GIOTX vs. GIMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO International Developed Equity Allocation Fund (GIOTX) and GMO Implementation Fund (GIMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GIOTX achieves a 18.85% return, which is significantly higher than GIMFX's 14.16% return. Over the past 10 years, GIOTX has outperformed GIMFX with an annualized return of 11.95%, while GIMFX has yielded a comparatively lower 7.26% annualized return.

GIOTX

• 1D: 0.93%
• 1M: 5.92%
• YTD: 18.85%
• 6M: 21.98%
• 1Y: 42.44%
• 3Y*: 28.42%
• 5Y*: 14.01%
• 10Y*: 11.95%

GIMFX

• 1D: 0.40%
• 1M: 5.11%
• YTD: 14.16%
• 6M: 16.37%
• 1Y: 32.72%
• 3Y*: 17.75%
• 5Y*: 9.54%
• 10Y*: 7.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

GIOTX vs. GIMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GIOTX GMO International Developed Equity Allocation Fund	18.85%	43.70%	10.66%	21.03%	-12.41%	11.14%	7.43%	24.45%	-19.66%	26.38%
GIMFX GMO Implementation Fund	14.16%	25.37%	2.67%	14.75%	-1.24%	4.05%	-7.25%	13.24%	-5.58%	14.09%

Correlation

The correlation between GIOTX and GIMFX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.86

The correlation between GIOTX and GIMFX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

GIOTX vs. GIMFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GIOTX

GIOTX Risk / Return Rank: 81
GIOTX Sharpe Ratio Rank: 84
GIOTX Sortino Ratio Rank: 79
GIOTX Omega Ratio Rank: 76
GIOTX Calmar Ratio Rank: 83
GIOTX Martin Ratio Rank: 81

GIMFX

GIMFX Risk / Return Rank: 95
GIMFX Sharpe Ratio Rank: 98
GIMFX Sortino Ratio Rank: 97
GIMFX Omega Ratio Rank: 96
GIMFX Calmar Ratio Rank: 92
GIMFX Martin Ratio Rank: 92

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GIOTX vs. GIMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO International Developed Equity Allocation Fund (GIOTX) and GMO Implementation Fund (GIMFX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GIOTX	GIMFX	Difference
Sharpe ratio Return per unit of total volatility	2.72	4.13	-1.41
Sortino ratio Return per unit of downside risk	3.75	5.83	-2.08
Omega ratio Gain probability vs. loss probability	1.49	1.83	-0.34
Calmar ratio Return relative to maximum drawdown	3.88	5.00	-1.12
Martin ratio Return relative to average drawdown	15.30	19.42	-4.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GIOTX vs. GIMFX - Sharpe Ratio Comparison

The current GIOTX Sharpe Ratio is 2.72, which is lower than the GIMFX Sharpe Ratio of 4.13. The chart below compares the historical Sharpe Ratios of GIOTX and GIMFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GIOTX	GIMFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.72	4.13	-1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	1.12	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.81	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.71	-0.37

Drawdowns

GIOTX vs. GIMFX - Drawdown Comparison

The maximum GIOTX drawdown since its inception was -56.51%, which is greater than GIMFX's maximum drawdown of -25.87%. Use the drawdown chart below to compare losses from any high point for GIOTX and GIMFX.

Drawdown Indicators

	GIOTX	GIMFX	Difference
Max Drawdown Largest peak-to-trough decline	-56.51%	-25.87%	-30.64%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-6.53%	-4.13%
Max Drawdown (3Y) Largest decline over 3 years	-13.40%	-8.02%	-5.38%
Max Drawdown (5Y) Largest decline over 5 years	-29.68%	-14.02%	-15.66%
Max Drawdown (10Y) Largest decline over 10 years	-39.29%	-25.87%	-13.42%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-14.24%	-4.29%	-9.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	1.68%	+1.02%

Volatility

GIOTX vs. GIMFX - Volatility Comparison

GMO International Developed Equity Allocation Fund (GIOTX) has a higher volatility of 4.54% compared to GMO Implementation Fund (GIMFX) at 2.84%. This indicates that GIOTX's price experiences larger fluctuations and is considered to be riskier than GIMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GIOTX	GIMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	2.84%	+1.70%
Volatility (6M) Calculated over the trailing 6-month period	12.00%	6.22%	+5.78%
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	7.93%	+7.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.39%	8.58%	+6.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.34%	8.98%	+7.36%

GIOTX vs. GIMFX - Expense Ratio Comparison

GIOTX has a 0.00% expense ratio, which is lower than GIMFX's 0.02% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

GIOTX vs. GIMFX - Dividend Comparison

GIOTX's dividend yield for the trailing twelve months is around 6.77%, more than GIMFX's 3.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GIMFX GMO Implementation Fund	3.75%	4.28%	3.39%	5.93%	3.59%	3.28%	2.25%	3.99%	4.59%	2.95%	1.98%	0.00%
GIOTX GMO International Developed Equity Allocation Fund	6.77%	8.04%	5.07%	6.54%	4.45%	6.67%	4.48%	3.74%	3.90%	3.15%	4.04%	3.39%

Frequently Asked Questions

Can I hold both GIOTX and GIMFX in my portfolio?

With a correlation of 0.90, GIOTX and GIMFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GIOTX or GIMFX?

GIOTX has higher volatility (4.54%) compared to GIMFX (2.84%). In terms of maximum drawdown, GIOTX dropped -56.51% vs GIMFX's -25.87%.

Which has better risk-adjusted returns?

GIMFX currently has the higher Sharpe Ratio (4.13 vs 2.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.